Business Resiliency in the Manufacturing Industry

The manufacturing industry is a cornerstone of Australia’s economy, making up around 6% of the nation’s annual gross domestic product, and providing over 860,000 jobs. Worth over $30 billion, the industry is vital to maintaining both Australia’s supply chain as well as supplying international markets with exports. Australia’s manufacturing and production industry primarily produces petroleum and food, with other large Australian manufacturing industries including chemical, furniture, textile and plastic manufacturing. The impacts of the COVID-19 pandemic on local and global supply chains have been devastating, with a focus being shifted to encouraging local production in order to minimise supply chain disruptions as well as increase economic production after the previous stagnant years. However, like every industry, manufacturing and production businesses are not immune to experiencing disasters, emergencies and crises. Business continuity and preparation have never been more important, and it must be ensured that your business can handle whatever the future may throw at it.

A key element of business continuity planning involves ensuring that all legislation that your business may be subject to is being complied with. Many manufacturing businesses are subject to following the requirements of certain pieces of legislation, covering a variety of considerations including food safety, employee and personnel safety, hazardous waste disposal and management, environmental impacts and disaster and emergency arrangements. Failing to comply with the relevant legislation could result in your business facing legal penalties, or having operations ceased indefinitely. Legislation covering emergency arrangements can mean that having emergency plans in place is not only a legal necessity, but will also ensure that your business is best prepared to face a possible crisis event.
Manufacturing and production businesses are subject to many potential risks. Equipment and machinery cannot only be dangerous in nature for employee safety, but can also pose further risks if equipment is inadequately checked or is faulty. This can endanger employees, putting your business at legal risk, or could halt operations due to the lack of functioning equipment. This could pose both financial and contractual penalties for your business. Failure to comply with environmental regulations, specifically regarding waste disposal, could result in legal penalties and reputational damage, impacting the long term profitability of your business. Other significant risks that many manufacturing businesses face include I.T. failures, cyber attacks, natural disasters, disease outbreaks and supply issues.

Adequately preparing yourself, your business and your employees for whatever the future may bring is paramount to preserving a business’ profitability, reputation and longevity. Our experienced team at Resilient Services can help your business develop and implement a variety of plans surrounding crisis management, risk mitigation, business continuity and disaster and emergency management. Contact us today to see how we can help your business become stronger, smarter and more secure.

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